Korean automaker Kia Motors has scaled back its expectations for U.S. sales, according to trade publication Automotive News. The company recently targeted U.S. sales of 800,000 vehicles a year in 2010, but now expects that figure to be around 650,000 units, said CEO Chung Eui Sun.
Chung Eui Sun spoke at the groundbreaking for a new U.S. plant. He said the decreased expectations would mean Kia might have to export some units to Latin America. The company is spending $1 billion on the plant.
Kia hopes to hit 300,000 sales by the end of this year. “It will be a bit of a stretch, but the 300,000 target would be psychologically important,” said Len Hunt, Kia Motors America executive vice president and COO. Hunt said dealers remain optimistic about Kia’s investment in America.
